NYDFS releases guidance on risk management
The guidance emphasizes the importance of managing significant financial and operational risks associated with climate change for New York State-regulated banking and mortgage institutions.
Fannie Mae releases notice on loan limit changes
Updates to its mortgage loan underwriting system, Desktop Underwriter, over the Jan. 20 weekend will support changes made to FHA and VA loan limits.
California enacts “state of emergency” mortgage servicing rule
The rule requires servicers to provide additional records when transferring a mortgage secured by a property within a proclaimed emergency zone.
CFPB fines and shuts down debt collector for alleged FDCPA, FCRA violations
The Pennsylvania-based nonbank medical debt collection company is permanently banned from debt collection, purchasing or selling of any debts, or any consumer reporting activities.
CFPB adjusts asset-size exemption thresholds for Regulations C and Z
The asset-size exemption thresholds were adjusted based on a 4.1 percent increase in the average year-over-year CPI-W.
CFPB posts blog entry analyzing cash-out refinancing
According to the entry, which noted reflects the authors’ views, and not those of the CFPB, refinance mortgage originations decreased amid 2022’s rapid interest rate hikes, and notably favored cash-out refinances over non-cash-out options.
Fannie Mae announces updates to servicing guide
The updates include new financial reporting requirements for large non-depository sellers/servicers and a revised policy for loans transferred to an LLC, among other things.
Update on MCR FV6: State-Specific Supplemental Form Now Available [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
Louisiana Adds New Private Education Lender to NMLS [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.
NMLS Reinstatement Period: Jan. 2 – Feb. 29 [nmls.org]
Learn more about this topic and others in the NMLS Resource Center.